Let us suppose we have a loop of wire with some definite resistance in a magnetic field. Let the magnetic field be varying. This varying magnetic field will st up an EMF in the wire. My questions are as follows:

1). Energy is dissipated across the wire resistance. Where does this energy come from?

2). The current generated will also generate a varying magnetic field. Will this magnetic field generate another EMF in the loop? Will this go indefinitely?

Sidhant asked